216 pages | 10 Color Illus. | 8 B/W Illus.
No organization is impervious to change. Rather, the survival and growth of an organization is dependent on how well it copes with change. Successful change initiatives consist of the integrated eco-system of its portfolio, programs, and projects. These change initiatives become the delivery mechanisms for implementing the strategy of an organization.
Improving Business Performance: A Project Portfolio Management Approach clarifies how the proper application of portfolio, program, and project management concepts can help commercial and non-profit organizations achieve their strategic objectives. Most organizations have been good at devising strategy, but falter during its implementation. Executing strategy well to deliver superior business performance remains a key challenge, which is addressed as the core theme of this book.
The book portrays a top-down orientation as well as a bottom-up integration of change initiatives to facilitate alignment to strategy and accommodate mid-course changes. It takes into account existing global best management practices to bring forth an approach that is customizable and useful to organizations in any industry.
Describing why portfolio management lies at the apex of change initiative management, the book explains how to design and fine-tune portfolios so they are in alignment with your organization’s overall strategy and business needs. After reading this book, you will understand:
The book presents a case study that illustrates the application of project portfolio concepts in practical scenarios. It includes chapters dedicated to transition management, change management, benefits management, and the Enterprise Project Management Office. It also includes templates you can immediately put to use in your own portfolios, programs, and projects.
Context for Change
Triggers for Change
The Impact of Change
It All Commences with Strategy!
Project Portfolio Management
Starting Point for Portfolio Definition
Strategic Positioning of Organizations
Boston Consulting Group (BCG ) Matrix—Application
Setting Up of Performance Targets
Organizational Vision, Mission, and Strategic Objectives
Environmental Scanning and Competitive Strategies
Application of Balanced Scorecard (BSC) to Portfolio Management
Balancing the Portfolio
Portfolio Definition and Management—Roles and Responsibilities
Portfolio Definition and Implementation—Key Steps
The Core of Program Management—Benefits Management
Program Management—The Context of Benefits Management
Multiple Ways a Program Can Come About in an Organization
Program Governance Board
Program Initiation Phase
Program Stakeholder Engagement
Program Definition Phase
Program Execution Phase
Program Closure Phase
Project Management—Delivery Enabler for Change
Project Management—Major Processes
The Project Charter
Project Stakeholder Engagement
Project Work Breakdown Structure (PjWBS)
Project Schedule Development
Project Cost Baseline
Scope Change Requests and Managing Change
Project Quality Management Plan
Project Communications and Risk Management Plans/Risk Management Flow
Procurement Management and Staffing Management Plans
Project Setup End-Deliverable: Project Management Plan Finalization
Assessing Project Viability
Project Delivery Process
Project Progress Monitoring Process
Project Closing Process
Change Initiative Integration into Operations—Transition Management
Introduction to Transition Management
Change Management and Stakeholder Engagement
Significance of Change Management and Stakeholder Engagement
How Change Gets Triggered Off?
Enabling Changes from Enterprise-Wide Transformation Initiatives—Stakeholder Classification
Grouping of Stakeholders and Developing Stakeholder Response Stances
Why It Is Difficult to Change Stakeholders? Or Stakeholder Views? 1
Applicability of Change Management Models in Driving Change Initiatives
The Ways in Which Different Organizations Work
Change Management Roles
Benefits Management—Link between Portfolio and Program Management
What Is Benefits Management?
What Are the Practical Issues Concerning Benefits Management?
Planning to Obtain the Benefits
Realizing, Tracking, and Sustaining the Benefits
Benefits Management from the Portfolio Management Perspective
Setting Up and Running an Enterprise Project Management Office (EPMO)
Why an EPMO?
What Is an EPMO?
What Would Be the Structure of a Full-Fledged EPMO?
The Centralized Portfolio Office (PfO)/Nodal Offices
Center of Excellence (COE) Functions and Services
Temporary Project/Program Offices
How Is the EPMO Set Up?
Run the EPMO Implementation Program and Its Closure
Setting Up and Running the PMOs for a Specific Change Initiative
Challenges Facing the EPMO and Their Possible Remedial Measures
Enhancing the Organizational P3M Maturity
PM Maturity Model—An Overview
An Integrated Case Study—Application of Project Portfolio Management
Background: The Company—AXN Corporation
Management Structure—AXN Corporation
Triggers for Change
How AXN Corporation Went About the Change?
"Top-Down" Change—How Did AXN Go About It?
Reconciling with the "Bottom-Up" Approach
Balancing and Deploying the Portfolio
Program Execution—Interfacing with Project Management
How Projects in AXN Were Managed—Salient Points
How AXN Enhanced Project Management Competency
Portfolio Management Implementation—A Retrospective
Appendix: Structure of Major Portfolio, Program, and Project Artifacts
Portfolio Governance Framework
Portfolio Implementation Plan
Program Scope Baseline
Program Benefits Realization Plan
Program Benefit Card
Program Benefits Management Strategy
Program Communications Management Plan
Program Risk Management Plan
Program Risk Register
Program Financial Management Plan
Program Quality Management Plan
Program Resource Management Plan
Program Component List
Program Transition Plan
Program Governance Plan
Program Management Plan
Program Target Operating Model
End Program Report
Project Business Case
Project Scope Management Plan
Project Cost Management Plan
Project Quality Management Plan
Project Resource Management Plan
Configuration Item Record
Project Management Plan
Team Progress Report
Project Progress Report
End Project Report